Wall Street follows Main Street in giving low-wage workers a raise (Gary Burtless, Brookings)

Jamie Dimon, chief executive of JP Morgan Chase, this week announced a raise for his bank’s lowest pay employees. The company’s worst paid workers currently earn $10.15 an hour. By next February their pay will increase to at least $12 an hour, a jump of 18 percent. Dimon’s announcement follows widely reported wage hikes at Starbucks, Target, Walmart and other employers with sizeable numbers of low-pay workers.

http://www.brookings.edu/research/opinions/2016/07/13-wall-street-follows-main-street-giving-low-wage-workers-a-raise-burtless